California Resources Stock: A Deep Dive Into Analyst Perspectives (4 Ratings)
Portfolio Pulse from Benzinga Insights
Analysts have mixed views on California Resources (NYSE:CRC), with ratings ranging from bullish to bearish. Over the last quarter, there were 4 ratings with a recent shift towards bullishness. The average 12-month price target is $62.00, down from $65.50, with a high of $68.00 and a low of $60.00. Derrick Whitfield of Stifel raised his target to $68.00, while Kalei Akamine of B of A Securities lowered theirs to $60.00. CRC's financial performance shows challenges with a revenue decline of -24.72% and below-average net margin and ROE. However, its debt-to-equity ratio is sound at 0.32.
January 23, 2024 | 7:00 pm
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NEGATIVE IMPACT
California Resources has received mixed analyst ratings with a recent bullish trend. The average price target has decreased to $62.00, indicating potential pressure on the stock price. Financial challenges are evident with a significant revenue decline and below-average profitability metrics.
The decrease in the average price target suggests that analysts are adjusting their expectations for CRC's stock performance, which could lead to a negative short-term impact on the stock price. The financial challenges highlighted, such as the revenue decline and below-average profitability, could further contribute to bearish sentiment among investors. However, the sound debt management could provide some support to the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100